5.1 ERMUSR 05-10-2022 - Laserfiche WebLink

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UTILITIES COMMISSION MEETING TO:FROM: ERMU Commission Melissa Karpinski –Finance Manager MEETING DATE: AGENDA ITEM NUMBER: May 10, 2022 5.1 SUBJECT: Financial Report – March 2022 ACTION REQUESTED: Receive the March 2022Financial Report DISCUSSION: Please note that these are the preliminary unaudited financial statements. Electric March’selectric kWh sales are upfrom the prior year, 1%. For further breakdown: Residential usageis up 3% Small Commercial usage is up 3% Large Commercial usage is down less than 1% Electric Operating Revenues for Marchof $3,256,941 are more than prior year by 18% and favorable tobudget by 13%. March YTD is more than prior year by 6% and favorable to budget by 2%. The budget YTD variance is mainly due to the accrual of the power cost adjustment (PCA) under Other Electric Sales – Rate Increase. Other Revenues of $126,725 are lessthan the prior year by 35% and unfavorable to budget by 41%. Other Revenues YTD is less than the prior year by 24% and is unfavorable to budget by 29%. The prior YTD variance and budget YTD variance is mainly due to Interest & Dividend Income and Contributions from Customers. Overall, Total Revenues of $3,383,667 are more than the prior year by 14% and favorable to budget by 10%. YTD is more than the prior year by 4% and in line with budget. Purchased Power of $2,299,042 is more than the prior year by 19% and is unfavorable to budget by 22%. YTD is more than prior year by 18% and is unfavorable to budget by 19%. YTD Energy Adjustment Clause (EAC) charge is $823,733 more than prior year and $925,841 more than budget. EAC charge is partially offset by PCA revenue accrual. ministrative Expenses of $309,252are more thanthe prior year by 6% and unfavorable to Ad budget by 3%. YTD costs are more than the prior year by 3% but are favorable to budget by 5%. ______________________________________________________________________________ Page 1 of 3 60